Efore - Company Announcement

Efore has rearranged its financing

EFORE PLC   Stock Exchange Release    September 30, 2016 at 2 p.m.

Efore has rearranged its financing

Efore has concluded its financing negotiations. In connection with the
arrangement, the company has agreed upon financing amounting to EUR 6.8
million. Jussi Capital Oy, which belongs to the related parties of the Company,
has issued an absolute guarantee for part of the loan. The guarantee
arrangement has been made on market equivalent terms. These financing
arrangements and Efore’s transactions in China concerning outsourcing of
manufacturing and manufacturing support functions will give Efore good
opportunities to execute necessary actions that will enable a positive
operating result in year 2017. 

As a counter guarantee for the absolute guarantee granted by Jussi Capital Oy,
the Board of Directors of Efore has also today resolved to pledge 3,501,995 own
shares of the company in accordance with the authorization granted by the
Annual General Meeting of Shareholders on 30 March 2016. The pledge of own
shares has an especially significant financial reason in the interest of the
company and for all the shareholders, as the pledge is a prerequisite for the
new financing arrangements. 

Simultaneously, Efore has received a waiver from the financier regarding the
covenant breach that was disclosed in the half year financial report published
on 10 August 2016. 

EFORE PLC

Jorma Wiitakorpi
President and CEO

For further information please contact Mr. Jorma Wiitakorpi, President and CEO,
on September 30, 2016 at 3 -4 pm., tel. +358 40 175 8510 

DISTRIBUTION

Nasdaq Helsinki Oy
Principal media

Efore Group is an international company which develops and produces demanding
power products. Efore's head office is based in Finland and its R&D functions
are located in Finland, Sweden, Italy and China. Sales and marketing operations
are located in Europe, United States and China. In the fiscal year ending in
December 2015, consolidated net sales totalled EUR 89,9 million and the Group's
personnel averaged 887. The company's share is quoted on the Nasdaq Helsinki
Ltd.www.efore.com